Olympus has unveiled its latest digital camera called the E-P1. The camera is billed as the world's smallest 12.3-megapixel interchangeable lens camera. Olympus says that the camera blends high-quality still images of a DSLR with HD video capability and Linear PCM recording.

The E-P1 offers in-body image stabilization, a 3-inch LCD, dust reduction system, 12MP resolution, HD video and audio, in-camera creativity features and more. The focus is assisted for fast action and the camera has multiple exposures and multiple aspect shooting.

The camera has 19 automatic scene modes including night, portrait, and landscape mode. Face Detection helps focus on faces and the camera has an intelligent mode that changes all settings for you. An optional clip on viewfinder is available and the camera uses the micro four thirds-lens system. The camera is set to ship in July and will sell for $749 for the body only, $799 with the body and 14-42mm kit lens and $899 with the body, ED 17mm f2.8 lens and optical viewfinder.

via Olympus